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2781  Economy / Gambling discussion / Re: $2.7 billion merger - Bally's Corp and Gamesys - one of the biggest in gambling on: October 08, 2021, 03:46:18 PM
They could do it anytime, but the only concern is if their players would adapt such new thing, I mean it's not very easy to try something new especially if you are always using fiat in gambling and suddenly jump out to cryptocurrency in betting. There's a lot of things the players should do first before using it in my opinion because they could lose a lot of money if they are going to bet it carelessly, you know what I mean.
2782  Economy / Gambling discussion / Re: Karnataka Government Banned Online Gambling on: October 08, 2021, 12:43:22 PM
What country is this from? Not familiar with the name of the government so I can't gauge whether it's going to be an influential legislation. If I just assume, I am thinking that it's not going to have a big effect in gambling industry let alone the crypto gambling platform.

It's a state in India. Of course it is not going to affect the gambling industry because the majority of the countries around the globe does not ban online gambling and casino, whether it's based on fiat or cryptocurrency. India only allows horse racing and lottery for ages that's why I think they banned new type of gambling because they don't need that many. Especially when you know your people are experiencing poverty and suicides at the same time.
2783  Economy / Trading Discussion / Re: *Day Traders* are now calling gambling Addiction helplines!! on: October 08, 2021, 11:14:22 AM
For me addiction on both things are just the same, it's bad if your addiction is exceeded anyone's expectancy, because you're really helpless if you are addicted to the point that you don't care about yourself anymore, you don't care whether you eat or not as long as you have something to gamble in Trading or Gambling, same stuff. The idea is both things will cause you bad things, losing money and losing yourself if you don't know stuff and yet you still do Trading or Gambling.
2784  Economy / Gambling discussion / Re: [BOXING] Jonas Sultan vs Carlos Caraballo - October 30, 2021 on: October 07, 2021, 02:50:36 PM
Good rivals in boxing always come from Philippines and Mexican countries (in my opinion). In this fight, my opinion would be is Jonas Sultan will be the underdog here since Carlos Caraballo is a fighter who likes knockout wins while Sultan is more like a perseverance fighter who endures the whole 12 rounds and win by points. A huge odds are on Caraballo so expect a knockout here in this coming fight.
2785  Economy / Gambling discussion / Re: $5000 to $1 million in 3 years and little over 2000 bets! on: October 07, 2021, 01:35:58 PM
It just shows that there's no always winning the game it's all about the gambler managing all of the winnings and profit, even though it looks super impossible to achieve still it happens. But of course, is the $5000 only wasted to the game? There's a doubt on myself because not all the time we are having a good and green day with the gambling. Still congrats to OP achieving this kind of hard work and profit. The higher the risk the higher we gamble to win.

It's always like that in gambling, expect the unexpected either it is good thing or bad thing. It is possible to happen if his winning rate is more or less 90% and his bets are all in as always, for example is in sports because that's the only betting I know that has a very fair game unlike poker, blackjack, lotteries, etc, because all those things are a very high level strategy gameplay as well as luck.
2786  Economy / Gambling discussion / Re: [Boxing] Gervonta Davis vs. Rolando Romero - December 5 on: October 07, 2021, 12:21:46 PM
Not fun to watch if the betting odds are not attractive, I also bet if I watch a fight so like to see some odds like KO odds which are attractive.

Gervonta Davis is probably gonna KO Rolando Romero as he has a high kO rate, currently 24/25 or 95%.

We can see their respective records here.
https://boxrec.com/en/proboxer/643387
https://boxrec.com/en/proboxer/781366

I agree.

Gervonta Davis bouts are all about being aggressive while having the best defense as well, that's why he did 24 knockouts out of his 25 bouts, while his opponent seems to be a rookie that has a very soft spot weakness that Davis could hit so that he can call the match early as possible. But we still don't know the possibilities but I'll probably go for Davis as an advantage.
2787  Economy / Gambling discussion / Re: Dice for fun or profits on: October 07, 2021, 11:03:46 AM
It's either for fun, profits, or frustration, your destiny in DICE depends on how lucky you are. Since it's all random sequence when rolling a DICE, there's no way you could make profits entirely by a strategy, it's all coincidence I guess if you win using a "strategy". It's all for fun if you don't care whether you make profits or no, and it's all for frustration if you're after profits because most likely you'll lose most of the time so betting management is a must.
2788  Economy / Economics / Re: Now UK is facing inflation so choose the best for you.. on: October 06, 2021, 02:05:07 PM
Rising inflation is not a new concern for the economies but growth in prices at alarming rate and others or moving towards hyperinflation situation is matter of concern which needs to be taken care of but no what the government are busy doing is just printing more and more notes or say printing more fiat making it worthless which can be compared to piece of papers only.The developed countries are also facing such issues even though it's less compared to underdeveloped or developing countries like in US or any but now this time UK is witnessing inflation peak in food prices with growth in one month only

Quote
UK inflation made its biggest jump on record in August, adding to pressure on households as the government ramps up taxes on workers and prepares to cut universal credit benefits from next month.

The Office for National Statistics (ONS) said the consumer prices index measure of annual inflation rose to 3.2% in August, up from 2% in July, to hit the highest rate since March 2012.

The 1.2 percentage point increase between July and August was the largest since records began in January 1997



Moreover the government has ramped up the taxes and cut the social benefits also.Who is gonna face all these situations in bad way? The middle class who have trusted the banking system and government but they failed to manage such situations.This is just a step towards devaluation of your fiat and you will be worth zero near future.

UK inflation rising

So what is best for you? Bitcoin can safeguard you from all these things and provide you deflationary future ahead and you don't have to worry about all these things.Have your bitcoin stacked with you ASAP.

Inflation happens in every country but the span of time of its increase rate is indeed alarming. Inflation is the nemesis of the lower and middle classes. Whenever the inflation rate rises, those people who belong beyond the poverty line and the middle class are the usual affected ones. The government must do ways to manage the inflation rate from increasing furthermore or else the working class will suffer. However, despite doing things to prevent inflation from happening, what the government tends to do is to address other concerns that aren't really that urgent and print excessive money to counter the inflation, as if it would help it. So people have no other choice but to rely upon themselves since the government can hardly do anything to solve inflation, hyperinflation, and shrinkflation.

As early as now, I hope people find bitcoin of great help to safeguard their funds from being devalued now that this kind of problem continuously arises. Storing your funds in lesser prone to inflation would be a power move. If you'll do it now, you'll thank yourself later in the future. Although of course, still do your own research and only invest what you can afford to lose because despite being lesser prone to inflation, we all know the 'weak spot' (depending on the situation. can either be good or bad) of bitcoin which is volatility. So, choose wisely where to store your funds to guarantee you will still get the best of it after a few years. Bitcoin isn't the only platform, you can check others as well such as stocks, real estate, etc. Do what you think suits you best.
2789  Economy / Economics / Re: Just because prices are high, doesn't mean that is a good investment. on: October 06, 2021, 01:30:29 PM
I have seen this kind of argument that just because the price of a commodity is high means that it is a great investment.

To a certain extent, a high price often means that investors have faith in the fundamentals of the commodity (For example, one of the most expensive shares in the American stock market is Berkshire Hathaway, which has consistently outperformed the S&P 500 since 1965).

However, there is the potential that high prices don't actually show genuine interest in a stock, but rather frenzied speculation on a commodity that has poor fundamentals.

A prime example of this happening was at the dot com bubble in the early 2000s.

What happened was companies that were, to be frank, pretty shit had managed to get multi-billion dollar evaluations because investors believed that the internet had fundamentally changed the business landscape forever.

As a result, people quit their jobs to trade full time, media stoked up the desires of getting rich and everyone believed that this gravy train will carry on rolling on and on forever.

Then the combination of increased interest rates, the majority of the aforementioned companies burning through cash and investors becoming aware of it all lead to the technology and by extension the entire economy to collapse while a few key members making big money.

This entire situation was the very exemplar of the title as companies that had billions of dollars turned out to be worthless at the end.

Be vigilant.

In short term, don't just follow the hype and do not FOMO. Not everything that you see going an uptrend in the market chart is worth the investment. Most of the coins in the market that are going up can be a really good form of investment but always do your own research about something that you'll put your money in. Make sure to check if that certain coin has a strong project ongoing or strong planned projects ahead that could establish the foundation of the coin. Check the white paper of it to ensure stability and reliability. If the coin does not exhibit a long-term goal, make sure to put that in mind too, otherwise, you'll lose money. Because there are coins that are just ideal for short-term investment or spot trading. If you fail to remember this, consider your money gone. Instead of "buy low, sell high" you might end up "buy high, sell low" just to get back some of your capital.
2790  Bitcoin / Bitcoin Discussion / Re: Iranian Bitcoin Mining Ban Lifted after four Months on: October 06, 2021, 12:53:22 PM
Good news from Iran Cheesy. In may of this year, the Iranian government placed a ban on crypto mining over concerns of huge electricity consumption and the constant blackouts experienced by the country.

Quote
“The authorised mining of cryptocurrencies does not consume much electricity and needs just around 300 megawatts. However, it is the unauthorised crypto miners that consume a lot of electricity; they consume about 2,000 megawatts," President Rouhana said, according to a local publication Iran Front Page.


“As of today, it will be forbidden even for authorised miners to mine cryptocurrencies until late September,”

https://www.indiatoday.in/technology/news/story/bitcoin-and-other-crypto-mining-banned-in-iran-because-its-high-power-use-makes-it-dirty-money-1807308-2021-05-26

True to their word, the ban has been lifted and only licensed miners are allowed to come back online. Unlike China, Iran has embraced crypto mining and since 2020, the crypto mining sector has issued out over 1,000 crypto mining licenses. It is a highly regulated sector. With a projection of providing $1 billion in annual revenue for the country.

Quote
Iran began a process of nationalizing its crypto mining sector back in 2020 after months of dealing with illegal crypto mining activities. In January 2020, the country issued about 1,000 licenses for cryptocurrency mining in the country.

https://cointelegraph.com/news/bitcoin-mining-banned-in-iran-until-september

I believe in no time the country would make it legal for local merchants to accept payments in bitcoin since it is already being use for import payments.




This is indeed a piece of nice news most especially to the users of bitcoin in Iran.

The unauthorized mining is what pushed their government to ban mining because of high electricity consumption. I can't blame them though because unauthorized mining even consumes way lot more power than those legal ones permitted by the state making the state's natural resources suffer. It's understandable in my opinion because the Iranian government just thinks of what is best for their country's welfare. I really just hope there would be no more people abusing it now that the ban has been lifted so that the authorized ones can return to be fully operational.

This ban lifting is timely because I think bitcoin can help their economy to bounce back now that their local currency is on a rough patch. Hopefully, they'll soon adopt it as one of their legal tenders as well like what El Salvador did. And hopefully, they have found alternative ways (eco-friendly) to generate power to make electricity. This can help them minimize the energy consumption that comes from their non-renewable resources making it more cost efficient in the long run.
2791  Bitcoin / Bitcoin Discussion / Re: What if stop believing about bitcoin ? on: October 06, 2021, 12:15:20 PM
Bitcoin has no physical presence. What if we just stop believing in bitcoin. I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?

Bitcoin is an intangible thing that has value despite not being backed up by gold. Because foremost, bitcoin is a decentralized asset, hence, there's no way it would be backed up by anything such as gold. Not being backed up by gold nor not having a physical appearance doesn't necessarily mean bitcoin will have no value. It doesn't work like that. Bitcoin can stand on its own and can show its full potential as long as there is market demand. The market is the one that controls the price movement of bitcoin, not gold, not the government. In addition, not every country has equivalent gold to their fiat money. I think you're just assuming things without counterchecking it on the internet.

If you'll compare bitcoin to fiat money, you'll really see the big difference between the two. Bitcoin is scarce and decentralized. Meaning it has a very limited supply and isn't controlled nor manipulated by anyone. Unlike that of fiat that can be printed excessively depending on the needs and of the country or whenever it may deem necessary by the state. Adding the fact that the money circulation and printed is always manipulated by the government which makes it more prone to inflation.

To answer if this would happen or not, it's subjective because we all have different perspectives and stances about something. Personally, I won't stop believing in bitcoin because it has proven itself to me numerous times already how reliable it is anytime, anywhere. There are two sides to everything - proposition and opposition. It's just really up to us where we want to side. I would like to be excluded from the narrative of stopping believing in bitcoin though.
2792  Economy / Economics / Re: Why exchanges are charging a big amount as transaction fee on withdrawal on: October 05, 2021, 12:58:46 PM
It is really annoying to pay big amounts as transaction fee. Today myself encountered a pathetic situation. I was in need of money, and my wallet had $400 worth of TRX. I wasn't able to change it directly to fiat, and for this reason I deposited the entire TRX in an exchange and traded against bitcoin. Now on withdrawing it exchange took a transaction fee of 0.0009 btc and what is left is around $350 worth bitcoin.

If this is the scenario surely then we can't make a plan with what is available in the wallet.

Please post the exchanges with the low transaction fee and good trading volume. Maybe next time it'll help me.

The exchangers really have high fees most especially if you're going to withdraw BTC. I suggest you look up altcoins to convert it first before going in fiat. Personally, I use XRP because it has a relatively low gas fee compared to other coins. You can also check from time to time when is the best time to withdraw that has a lesser gas fee. Usually, it's around midnight during the weekends. Although it still varies. Hope this helps. You can check few articles about it too to make yourself more educated. Transaction fees are a pain in the ass, I feel you. Instead of having a bigger amount, the amount you can withdraw will be lesser because of gas fees. Because of course, the platform needs to profit as well. I just find it too much sometimes.
2793  Bitcoin / Bitcoin Discussion / Re: What is the biggest threat to Bitcoin? on: October 05, 2021, 12:25:44 PM
Everybody looks so happy and optimistic about Bitcoin bull rally, everything is going fine for the crypto king and many expect it to last forever including myself. Do you really think so? I'm not talking about some corrective retracement, which is healthy for the market too.
What do you think can be the biggest threat for Bitcoin in current situation? In my opinion it can be only some sudden governments shift in regulations and laws to ban Bitcoin (which I don't really think may happen), otherwise there are basically no obstacles or threats.

Personally, I think regulation would be the biggest threat to bitcoin. If the government manages to regulate bitcoin, it can do more harm than good. Regulation means the death of the decentralization of bitcoin. If the government would do this, the nature of bitcoin would lose its essence. Bitcoin is decentralized and it was made to be like it so that we can be free to do anything without the need to ask for permission or consent from anything we do from the state. I think the regulation of bitcoin will defeat its purpose if done without a limit. Decentralization is what makes the security of bitcoin more reliable compared to that of centralized ones. In addition, it makes bitcoin more stable. Although regulation of bitcoin won't be easy work for them. I also don't think they can do it. It's very unlikely to happen, but the possibility is there. The chance of success is very little though.
2794  Bitcoin / Bitcoin Discussion / Re: Is bitcoin an asset or a currency? on: October 05, 2021, 11:53:36 AM
Bitcoin can serve either as a currency or an asset. If you are lucky enough, it can be both. I think this matter is subjective because we are well aware that the legality of bitcoin and cryptocurrency, in general, varies from one country to another. To those countries that recognize bitcoin legally, bitcoin can be both an asset and currency because their country welcomed it, meaning they allow the usage of it. However, this is with limitations to some so make sure to know the policies that come with it. Here in our country, fortunately, bitcoin can be both. But the merchants must do their obligations to pay their taxes to the state, otherwise, they will be fined.

For those countries that do not recognize bitcoin legal, bitcoin serves only as an asset. They can't make transactions (physical establishments) using crypto because it isn't acceptable in their country unless of course, they'll do it under the table. For online transactions, I think they can get pass through it because crypto is decentralized, after all, the government won't be able to monitor their activities unless they do it on a regulated platform by the government.
2795  Bitcoin / Bitcoin Discussion / Re: Do you want to see Bitcoin legal in your country? on: October 05, 2021, 11:21:00 AM
Bitcoin is still legal in many countries and illegal in many countries. Do you want, Bitcoin to be legal in your country? 
Do you feel the need to legalize Bitcoin in your country?
Are your ideas about Bitcoin positive or negative?
What is your personal opinion about this?
What do you think, if bitcoin is legalized in your country, the country will be improved or will be damaged?
I definitely want Bitcoin to be legal in my country, and I feel the need to make Bitcoin legal in my country.

Our country welcomed and embraced cryptocurrency way back in 2015 up until to this date. The usage of bitcoin and other cryptocurrency coins are legal however, it was made clear by our central organization that any cryptocurrency coin isn't backed up by any goods nor recognized as a currency because it isn't issued by the banks themselves. They made cryptocurrency legal and regulates it in accordance with a circular they have made under the central bank's jurisdiction.

Despite crypto being legal here in our country, there are still only a few banks that are crypto-friendly. Most of the banks do not accept money that came from cryptocurrency and they do not allow crypto transactions. There are only a few platforms and digital banking apps that are allowing such, making it hard to process transactions using your debit/credit card. Hence, you'll have to find other ways to cash in money to trading platforms or to deposit your hard-earned money from doing crypto. Otherwise, they'll tag your account with unusual activities, eventually closing or totally banning your account.

I hope there would be more banks that will be crypto-friendly because I can hardly name a few here in our country making it difficult to most of us to use the usual accounts we have. In terms of legality, sure we do feel it here because we can do any crypto-related things such as trading, investing, and the likes. The issue just lies on the banks really because most of them have a negative perception when you tell them that you make money from crypto.
2796  Economy / Economics / Re: Inflation and protecting you wealth on: October 04, 2021, 01:01:20 PM
I recently listened to a discussion on which assets could actually be better to protect or even profit from inflation. This comes as most of the developed world is suffering the consequences of a soaring inflation and several pinch points in the supply chains and the international trade, such as a massive demand for freighters and severe queueing in ports.

How would you defend yourself from inflation:
- Buy bitcoin
- Buy more commodities.
- Buy REITs or real state.
- Buy stocks of listed companies.
- Buy art.
- ... any other?

Inflation is inevitable as much as we don't want it. So it's really better to store your funds in something that is lesser prone to inflation. Personally, I am into bitcoin investment and real estate because I think these two are of great store of value. If ever things go haywire in the future I will still have my funds readily available in bitcoin and I will still have assets such as real estate properties that I can sell with higher value because it appreciates as time passes by.

Bitcoin and real estates are my personal picks. Maybe I will consider stocks if ever I got the chance to familiarize its workarounds. But as of now, I'm sticking with these two as my way of defense from inflation. Commodities are nice as well because they can be traded with other goods. This is ideal to either be in buy and sell or hold depending on its type. Art would be last on my list because I don't think people would prioritize this thing the moment inflation arises. Except of course if the art is something remarkable, famous, and extraordinary. If this is the case, its value can appreciate as well and can be bought by the elites at a higher price making it a good way to generate profit over time.
2797  Economy / Economics / Re: China Is making Fuds Since 2017, But BTC Always Gone higher on: October 04, 2021, 12:23:01 PM
Hi guys as mostly readers would be crypto related. And China is Always big market crasher. In my point of views biggest whales always Do this with china so they can crash crypto market. So they they get always lower entries and they get higher returns to create fomo when bull market happens. So what are are your thoughts about China. If they crash crypto to 20,000 Dollars or not in coming months.

I have the same thing in mind. China has been doing this for the past years already and it's really amazing that they are still able to instill FUD whenever they do this. Several reports in the past have been recorded about banning bitcoin in China, but they don't really make it a permanent matter. They release a statement, and then after a short span of time, they will lift what they have said. They are doing this to make the market crash. And when they have finally made it, they will take advantage of the market crash to buy more coins at a lower position, so that when the bull market enters, they'll have large profits.

You see, China is one of the leading countries that have cryptocurrency holdings. If they will really ban bitcoin and cryptocurrency in general, they have so many to lose from the taxes and income on the bitcoin mining and transactions and the likes.
2798  Bitcoin / Bitcoin Discussion / Re: Does Bitcoin have any real value? on: October 04, 2021, 11:47:25 AM
Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?

Before asking here in the forum, I hope you have done your part in researching the advantages and disadvantages bitcoin has to offer. I'm guessing you have the resources to do your own research because you managed to post here, meaning you have the gadget and internet connection to look upon facts about bitcoin as well as its history to make yourself educated. You can browse the Internet. Check several news, articles, and pages that contain terminologies, basics, and fundamentals of bitcoin. You can also watch video tutorials on Youtube for you to grasp the ideas, concepts, and techniques in a better manner. It's really our responsibility to equip ourselves with the knowledge that we needed before entering something most especially if it is high risk. I still appreciate you reaching out here, but don't let the other's advice be your decision-maker. Countercheck it too and do your part as a potential investor.

Based on my insights, bitcoin despite being not backed up by any physical asset such as gold or fiat isn't really a problem because the value of something is based on the people who are believing and patronizing it, as well as based on its uses. Bitcoin is just like gold and fiat that have their own purposes and serves certain people. It has a system and is used in various manners. The market demand makes and maintains the value of bitcoin because they have seen its potential, hence decided to patronize it which has a chain reaction of moving the coin's position whether in an upward trend or downward trend, depending on the season. You can check the white paper of bitcoin over the Internet. From there, you can start to ponder whether if it's worth the risk or not depending still on your risk appetite. Best of luck. Hope you'll find the answers to the questions you're thinking of.
2799  Bitcoin / Bitcoin Discussion / Re: Isn't speculation and volatility a problem for Bitcoin? on: October 04, 2021, 11:12:29 AM
Isn't speculation and volatility a problem for Bitcoin?

I don't think speculation and volatility are a problem at all to bitcoin. Both aforementioned factors are what makes bitcoin what and where it is today. In my opinion, speculation and volatility are actually beneficial to bitcoin's price value making it profitable to the users who are investing, trading, and holding it.
Speculation is what triggers the volatility and volatility is the one that is in charge of the trend of bitcoin on the market. I think both play a great role in maintaining bitcoin's value and popularity to the masses. With speculation, people will start to wonder if it's a worthy investment and with volatility, they will be encouraged and enticed to risk into it based on what they have researched.
2800  Other / Politics & Society / Re: Pandora papers <== They said Bitcoin was used to avoid taxes! Think again on: October 04, 2021, 10:37:41 AM
A typical scenario that has been happening before up until today. The central organizations and some of the personalities that are in the upper-class society keep on pushing bitcoin as a den for illegal activities such as executing crimes, money laundering, and a medium to escape taxes because they are against it due to its nature - decentralized. Some of these people can't accept the fact that bitcoin is beneficial and keep on destroying its reputation for their own personal gain. They don't want bitcoin to thrive and the central organizations can hardly accept it because it is volatile and decentralized. Meaning they won't be able to control it as much as they want because the market demand is the only thing that controls it of course aside from some external factors such as news about its legality and the movement of the whales. Unlike fiat, they can't just make cryptocurrency out of thin air which makes it not ideal for their liking.

Technically speaking, most people who are into cryptocurrency are paying their tax obligations. In converting and exchanging their coins in fiat, they are paying some fees to the centralized exchangers that are regulated by the government. Hence, they are still paying tax aside from the annual tax of course which is subjected based on the generated income you have annually in doing cryptocurrency.
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